|Posted: April 20, 2013, 8:28 am - IP Logged|
The 3% is the amount the NJ Lottery withholds at time of prize payout. The withholding amount had not been "tested" by a big jackpot winner in NJ until this latest Powerball winner. That is why it has changed on USA Mega.
The 10.8% was the top state income tax rate at the time the law was introduced in 2009. Currently, the top rate in NJ is 8.9%, so that is the final rate that somebody like the latest NJ Powerball winner would ultimately pay by the end of the year.